Deutsche Bank Starts News Corp at a “Buy” (NWSA)
Deutsche Bank analyst, Matt Chesler thinks that News Corp (NWSA) stock is looking pretty cheap, and the company has initiated coverage on NWSA with a “Buy” rating.
Deutsche Bank also gave News Corp a $20 price target, while Chesler commented, ”While the early days could be a rough ride for investors with lots of selling and limited near-term catalysts, we believe investors should be buying News Corp shares at these levels. The stock is trading at over a 50% discount to asset value and is therefore, in our view, too cheap to ignore. Plus, investors are getting almost $5 of cash per share for free on our estimates.”
News Corp shares were up just slightly on the day, rising 12 cents, or .8%. The stock is around 8% off its 52-week high.
The Bottom Line
Shares of News Corp (NWSA) have a yield of 1.13% based on Tuesday’s closing price of $14.99.
News Corp (NWSA) is not recommended at this time, and does not hold a Dividend.com DARS™ Rating.
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